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Support production of the new product

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The General Confectionery Company has designed a new product. Its product development team believes the product is sufficiently innovative to warrant consideration.

The target market is 5 to 8-year-old children so the product needs to appeal to children and their parents.

The company does not have the capacity to add this product to their product line without removing at least one of their other products and making manufacturing process changes.

It is necessary to analyse the risks involved in making the decision to go ahead with the new product. What procedures should be followed to identify and categorise the risks (costs) in order to determine whether projected sales (benefits) are likely to support production of the new product?

Reference no: EM132878161

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